Currency Forecast, October 28th 2013

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Currency Forecast, October 28th 2013
Currency Forecast, October 28th 2013

Currency Forecast, October 28th 2013

Again a quiet start into the week, though there was quite an interesting article in the Italian newspaper. It looks like the unemployment numbers in this country are wrong. They say that close to 3 Mio people, who are unemployed, are not in the official statistics. The reason is, because they don’t even look anymore for a job, though they would like to get a job of course.

If this is true, then the unemployment rate would not be around 10%, what the officials like to tell us, it would be then around 20%, which would be a real disaster for Italy and in my opinion this would lead to another downgrade. We need to watch this story carefully, as if some officials would agree with that, it could really shake the markets.

Beside this story, not much is happening at the moment and it is still a time of trading small ranges, if you like and a waiting for some impulses.

Good luck,

Current trades, positions and levels:

For info how the model works: The P/L is always calculated with the size of 1. So if the position is 1 and it makes a profit of 100 pips, the P/L would be +100 pips. If the position is 2 and it makes a profit of 100 pips, the P/L would be +200 pips of course – it is always calculated with the position size of 1. The position could go up to 3, in case the system has a strong view.

**relatedarticle**

Current spot: EURUSD 1,3805 , USDCHF 0,8935 , EURCHF 1,2340 , USDJPY 97,60 , EURJPY 134,75 , EURHUF 292,50 , USDCAD 1,0440 , GOLD 1.350,00

EURUSD
(Entry lvl):
Current position: Short 3 @ 1,3150
Target:
Stop lvl:
Last trade:
P/L (ytd): -110 pips

USDJPY
(Entry lvl):
Current position: flat
Target:
Stop lvl:
Last trade:
P/L (ytd): +2240 pips

EURJPY
(Entry lvl):
Current position: Short 3 @ 134,00
Target:
Stop lvl:
Last trade: Sold 3 @ 134,00
P/L (ytd): +823 pips

USDCHF
(Entry lvl):
Current position: Long 3 @ 0,9366
Target:
Stop lvl:
Last trade:
P/L (ytd): +440 pips

EURCHF
(Entry lvl):
Current position: long 3 @ 1,2288
Target:
Stop lvl:
Last trade:
P/L (ytd): +390 pips

EURHUF
(Entry lvl):
Current position: flat
Target:
Stop lvl:
Last trade:
P/L (ytd): +2540 pips

USDCAD
(Entry lvl):
Current position: flat
Target:
Stop lvl:
Last trade:
P/L (ytd): +500 pips

XAUUSD (Gold)
(Entry lvl): Buy 2k ounces @ 1250,00
Current position:
Target:
Stop lvl:
Last trade:
P/L (ytd): +258.000 USD

To contact the reporter of this story: Marco Roemer at marco@forexminute.com